Entrepreneurship Shrumpeter 2012

International Conference on Entrepreneurship Celebrating Centenary Year of Schumpeter Jointly Organized by SME Business Support Fund and SURE
Institute Lahore Dec. 9-11, 2012 Research Paper by Prof S. Tahir Mehmood Kiani - Doctor Sidra Kiani - Doctor M Raza T. Kiani
Entrepreneurship Wealth Creation in

Rural Communities incorporating innovation and entrepreneurship skills development for sustainability through the lens of
Schumpeter!
Rural Entrepreneurship Development Insight Next Rural Revolution

Sarhad University of Science & IT
Series of articles by Department of Management Sciences Sarhad University of Science & IT 2009-2012*
Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT
International Conference on Entrepreneurship Celebrating Centenary Year of Schumpeter Jointly Organized by SME Business Support Fund and SURE Institute Lahore Dec. 9-11, 2012 Research Paper by Prof S. Tahir Mehmood Kiani - Doctor Sidra Kiani - Doctor M Raza T. Kiani
International Conference on Entrepreneurship Celebrating Centenary Year of Schumpeter! L A H O R E Dec. 9-11, 2012 Research Paper
Wealth Creation in Rural Communities incorporating innovation and entrepreneurship skills development for sustainability through the lens of Schumpeter! Rural Entrepreneurship Development Insight
Sarhad University of Science & IT Series of articles by Department of Management Sciences
Sarhad University of Science & IT 2009-2012*
Determinants of Rural Entrepreneurship in Pakistan
Professor Sultan Tahir Mehmood Kiani Sarhad University of Science & IT Walden University USA - stmkiani@hotmail.com Dr. Sidra Kiani State Medical University Semi Kazakhstan, Department of Healthcare Management & Policy University of Surrey UK Dr. M Raza Tahir Kayani State Medical University Semi Kazakhstan
Most new jobs wont come from our biggest employers. They will come from our smallest. Weve got to do everything we can to make entrepreneurial dreams a reality. (ROSS PEROT)
Abstract: Target group: Rural communities, Graduating Students, researchers in Microfinance field, M FIs, NGOs and Governmental structures. Research Question: How do entrepreneurship skills development, micro financing and social entrepreneurship serves as a sustainable combined tool to alleviate poverty, empower rural communities and contribute to sustainable development in rural 65 percent of Pakistan? The paper focuses on the (most power full entrepreneurial muscle) rural assets of the agro based economy of Pakistan, where 65% population lives in harsh rurality. The 42% skilled and non skilled HR is absorbed by the agro economy. The 9 million dairy production houses that produce 177 - 540 billion rupees milk stands at 4th in the world. The rural agriculture sector further contributes 24% of the GDP and exports of over $ 5-8 billions raw agricultural products and venturing off the farm entrepreneurship, yet the rural communities are experiencing extreme poverty and deprivation. The paper develops and refines focus to rural area culture, working conditions, communities cognition levels, collective activities, micro entrepreneurship, micro financing and recognition of existing opportunities in rural Pakistan. The rural entity is becoming an abuse due to shortage of technology, water, electricity and poor governance in the country. The previous researches on entrepreneurship has been scattered and fragmented, no significant literature and data sets are available to empirically compare the facets of entrepreneurship discipline and especially the topology of skills of the rural communities for micro entrepreneurship, micro financing for boot strapping and to measure the predicted sustainability. The paper further develops and correlates the empirical data on the preferences and choices of rural communities for micro entrepreneurship, matching with the existing rural and end user urban infrastructures and industrial units. The empirical data consists of 30 selected rural yout hs interviews from KPK North Waziristan, rural Agencies and adjoining areas. The discussion pertaining to the miseries of rural entrepreneurship in
Pakistan revolves around lack of Government policies, financing, inadequate micro entrepreneurial skills (topology of skills comparison) and hallow contribution by Universities, lack of micro financing opportunities, and old vintage technology of rural infrastructures. The study incorporates and discusses the need of rural education and skills development modules of rural motivation, entrepreneurship management, rural infrastructures mobilization, set of skills development, business plans cadres and rural dedicated programs by universities which can play pivotal role for grooming the graduating students to act as economic engines within their communities and address abandoned rural green valleys boundaries. There has to be next rural revolution for the sustainability of 65 % population of Pakistan and 52% rural communities of the world.
Key words: Rurality, Human Resource (HR), Khyber Pukhtunistan (KPK), Entrepreneurship, Entrepreneurial muscle, Financing, Rural skills, Infrastructure, Economic engines, Rural revolution.
Schumpeter describes entrepreneurs as visionary change management agents (Sandberg, 1992) who introduce new economic activity that leads to a change in the market. From Schumpeters point of view, an entrepreneur is not necessarily the one who puts up the initial capital or invents new products, but a person who participates with innovative business idea.
Determinants of Rural Entrepreneurship in Pakistan Background
factor and taken over as self sustained economic engines. Empirical Literature Review The nineteenth century has been significant for the emergence of industrial growth and birth of Joseph Schumpeters (1885-1950) thoughts on the entrepreneurship and social entrepreneurship as drivers of the economy and self employment economic engines. Schumpeter gave three visionary narratives on the merits of entrepreneurship of society and the economy growth. First, Schumpeter describes entrepreneurs as visionary change management agents (Sandberg, 1992) who introduce new economic activity that leads to a change in the market. From Schumpeters point of view, an entrepreneur is not necessarily the one who puts up the initial capital or invents new products, but a person who participates with innovative business idea. Consequently, the creative activity of the entrepreneur is independent of the organizational or legal setting in which he/she may operate and practice innovative ideas. Second, entrepreneurship is natural skills set, and the one who perfects and applies it for micro and macro businesses and vertically integrating with main hubs of market(s) for revenue generation. The entrepreneur remains linked with market and continues for certain period in the business activity and finally reverts to the usual business activity (Schumpeter, 1980). Third, Schumpeter opined with authority that entrepreneurship is all about making an innovative difference and acts as corner stone of the economies. The entrepreneur is an agent of the firm, alters the present
The domain of Social entrepreneurship has

been the subject of considerable interest in the management and Entrepreneurial literature as it encompasses the social problems and issues of communities in broader spectrum especially in rural areas of developing economies. The Governments, Universities and academia have encouraged graduating students to devise entrepreneurial plans, cadres, courses and biz plan competition to foster entrepreneurial spirit, confidence and initiative for self employment and becoming economic engines within their communities. It is of paramount importance to engage with the evidence recording process in a way that it improves the ecological validity of results and minimizes undesired multidirectional biases in the minds of the future graduating entrepreneurs and future economic engines. The Karl Marxs authoritative economic model and theory of Communism worked for decades as instrumental tool of economic growth and production till it was out dated and replaced by the Capitalism as economic growth and social welfare engine. The mighty China and Russia also followed to capitalistic economic model characterized by profit-maximizing for private enterprises. Today China has designed its economy on export drive entrepreneurship and intrapreneurship model and maximized cheap production and increase in exports. However the 9/11 and the collapse of the mortgage and financial industries, banks and stocks triggered the global recession, which has yet to stabilize and still poses challenge for the capitalistic economic model. The entrepreneurship is acting as stabilization
business practices and innovates new to move into new direction (Christensen, 2003; Davidsson, 2003:318; Mintzberg at al., 1998:125). The mostly advocated aspect in the Schumpeterian theory is the market driven and market growth affected activity adopted by the entrepreneurs with new idea and innovation, that he does not flows with the old routine but enter new idea and products and services, may it be environment friendly and cheaper product with new features. The discipline of entrepreneurship is vital link in the management and business sciences but, still in infancy and lacks coherent direction and study to establish the accepted paradigms (Brown et al., 2001; Busenitz et al, 2003; Gartner, 2001; Aldrich and Baker 1997; Murphy et al, 2006; Shane and Venkataraman, 2000; Sexton and Landstrm, 2000) agreed that the discipline of entrepreneurship is new, shaping fast and gathering new knowledge which is significant in the micro enterprises and micro business set ups and bootstrapping. The domain of entrepreneurship is complex and possesses many direction for the entrepreneurs to explore the new micro business with new idea and some kind of innovation to capture the attention of the present market, the very essence of the entrepreneurs has been coined by the Schumpeterian theory as strategic game player. Who opens business and bootstraps in micro business start up environments (Elfring and Hulsink, 2007; Hite, 2005; Larson and Starr, 1993; Szab, 2007). In nut shell Schumpeter (1934) described the nascent entrepreneurs and the entrepreneurship as driver of the market economy. He opined that the entrepreneurs impulse the economic motion, through their
business direction and designs doctrine opportunity recognition capabilities and locus. Rural Entrepreneurship is a Varying concept in nature and somewhat in practice and application at various geographical locations and cultures. But all the researchs and definitions agree that the aim is almost same to create self employment and to make best use of the Infrastructures and fight growing poverty and tightening situation in urban and rural areas specially in Asia & Sub Continent, The phenomenon of value creation within new or existing businesses. The entrepreneur has to be able to find ways and means of creating and developing a profitable business. McElwee, (2005) wrote entrepreneurship is therefore different from professional and management tasks and activities, although it affects all professional and management activities. He further quotes Corman and Lussier (1996), who stated that the ability to operate an organization requires different skills and abilities than those required for being an entrepreneur. It is true that rural entrepreneurship is more challenging being away from Technological hubs and main facilitations and market thus making rural community more isolated and primitive and slow growing phenomena. The rural population of Pakistan faces many challenges being away from main education centers, facilitation set ups and main markets. The farmers and rural entrepreneurs do not possess adequate entrepreneurial skills and financial support to Innovate and expand their present ventures. The remoteness of rural areas and old technology further aggravates prevailing mess and poverty in 65% of rural Pakistan.
Murphy, Liao & Welsch (2006) emphasized that the entrepreneurs transpire innovation and bring positive changes through their any society. The entrepreneurs affect change and apply their skills when they have resources and opportunities. This theory argues that entrepreneurs have individual-specific resources that facilitate the recognition of new opportunities and the assembling of new resources for the emerging firm Research shows that some persons are more able to recognize and exploit opportunities than others because they have better access to information and knowledge. The argument that the possession of individual specific resources and infrastructure in rural or urban setups facilitates the creation and recognition of opportunities and it is important that the individuals have the entrepreneurial ability to muster and recognize these opportunities (Aldrich, 1999; Alvarez & Busenitz, 2001; Anderson & Miller, 2003, Shane 2000, 2003; Shane & Venkataraman, 2000). The cadre of entrepreneurs is extension of larger social net work structure; where they operate and derive value form the surfacing opportunities (Clausen, 2006). The opportunities can be utilized to create value provided the entrepreneurs have the necessary social net work (Shane and Eckhardt 2003). The stronger links with suppliers and the social net working can bring the possibilities of the opportunities recognition and exploitation for value creation (Aldrich & Zimmers, 1986). The opportunity recognition and value creation
knowledge and futuristic vision and create economic activity in
for nascent entrepreneurs would be easy task if they have strong social net working of the entrepreneurs group (Aldrich & Cliff, 2003; Gartner et al, 2004; Kim, Aldrich & Keister, 2003). The combination of education and experience may be heterogeneously distributed in family makes a stronger factor for the entrepreneurship designing and operating methodology (Anderson & Miller, 2003; Becker, 1975; Chandler & Hanks, 1998; Gartner et al, 2005, Shane & Venkataraman, 2000). Empirical studies show that human capital factors are positively related to becoming a nascent Entrepreneur the family business continue for next generations to be nascent entrepreneur in same or other niche (Kim, Aldrich & Keister, 2003; Davidson & Honing 2003; Korunka et al, 2003). The creation and value creation for success full entrepreneurial operations (Anderson & Miller, 2003; Davidson & Honing, 2003). The underpinned by ample background knowledge and the disciplines of economic, psychological, sociological, anthropological, opportunity-based, to resource based have been substantiated by ample evidence from the past and the present examples. These studies and entrepreneurial concepts have brighter future and furthering reflections for rural entrepreneurship in Pakistan by creating new entrepreneurial communities and business hubs as explained in diagram: Figure 1.1.
Rural
Rural Problems No Entrepreneurship Single economy/lack of micro financing Unemployment Educated youth migrated to urban areas Entrepreneurial
New Rural Communities
Urban
Migration Migration
Rural Communities
Urban Economic & Investment Hubs
Shaping & Changing Communities Rural Problems No Entrepreneurship Single economy/lack of micro financing Unemployment Educated youth migrated to urban areas Entrepreneurial New New Rural Communities Rural Migration Grouping Diversified Job creation- opportunity Finances Consultants Markets/Business Vertical Integration Migration of entrepreneurs Migration
Urban Economic & commercial markets Urban Education Hubs

New Rural Communities
Communitie Rural
s Communities
Discovering New markets

New Rural Communities New Rural Communities
Figure 1.1 shows the migration trends in Swat, Dir and Chitral and growth of the new communities.
Name
Micro Business Type
Employees
Age
Education
Marital Status
Type & Business Background Family Business Family Business Family Business New Micro Business
M.Khan Wali H Gul Kahan M. Shamrez
Dairy Production Vender Meat shop Vender shoe repair Entrepreneur/Grocery store
6 1 1 1
49 57 47 39
Secondary
M +5 kids M+4 Kids S S
Ali
Timber micro business
53
FA
M +4 Kids
Family Business
Ahmed Gull Wali Derwash K
Transportation Property Development Home Bakery made products
2 2 1
48 56 48
Middle BA Middle
S M =3 Kids S
Family Out Family Business Family In
Haroon K Hamza Rashid
Grocery shop Restaurant Poultry Farms
1 3 3
26 29 22
Middle Secondary -
S M+6 kids M+6 Kids
Family In Family Business Family Business
Data Table 1.2 Selected: Purposive sample (socio cultural graphics) from Swat, Dir & Chitral rural areas 2010- 2011 Survey
METHODS AND MATERIALS The study was a descriptive co relational survey. The target population for the study included rural and urban entrepreneurs of Khyber Paktunkhawa (KPK) of Pakistan. The accessible sample was 123 entrepreneurs active in tourism, taxi drivers, shop keepers, dairy farming, agricultural and livestock production. Data was collected via Purposive sampling survey questionnaire designed by the researcher. It contained 43 questions using seven-point Lickert type scale. Content and face validity for the questionnaire was established by a panel of experts. All survey data were analyzed using the Statistical Package16 for Social Sciences. RESULTS Descriptive analysis of the study revealed the following about the demographic information of the respondents. Among the three age groups (14 -45 -55- 65 - 40, 41 and 60), the majority of respondents belonged to 25 45 group. Less than 7 % of the respondents were women, and 93 % of the respondents were men. The respondents who were
middle educated, (39%) percentage had high-school diploma. However, 8 % of the respondents had bachelor or some higher degrees. Moreover, 18% of the respondents were illiterate. The majority of the respondents were involved in agriculture (18%), poultry and farming (9%) respectively. Almost 69 % of the respondents were married while the rest being single. The results of correlation analysis indicated that there was a significant relationship between independent variables (micro finance, motivation, Infrastructures, literacy/skills, and technology and success of dependent variable entrepreneurial sustainability of the rural communities. Regression analysis revealed that 91% of changes in (success of entrepreneurial sustainability) could be predicted by five independent variables (micro finance, motivation, Infrastructures, literacy/skills, technology and cognition Levels for success of entrepreneurial sustainability. Table 1 illustrates coefficient correlation (R) and R2 of each independent variable with the dependent variable.
Figure: 1.3 Independent & Dependent Variables
Table 1.4 Regression Analysis of effective factors in success of entrepreneurs
Variables Correlation Micro Finance
Coefficient (R2) .704
Significance Level
0.605
0.427
0.00
Motivation
.777
1.181
0.279
0.00
Literacy/skills
.852
0.411
0.329
0.00
Infrastructures
.872
0.487
0.229
0.00
Technology
.886
0.488
0.322
0.00
Opportunities/ Cognition Levels
.299
0.044
0.022
0.00
Table 1.4 illustrates coefficient correlation (R) and R2 of each dependent variable with the independent variable
Explanation: The 6 independent variables (Micro financing, motivation, Literacy/Skills, Infrastructures, Technology, Opportunities/Cognition Levels) and dependent (Entrepreneurial Success) variable correlate with each other and support the dependant variable entrepreneurial success for the 65 % poor communities of the rural Pakistan. The statistical regression analysis
significance levels have further substantiated the correlation between the variables and entrepreneurial success. .63 .44 Micro Financing .49
Motivation .53 .30
.32
Literacy/ Skills
Entrepreneurial Sustainability .88
.55
Infrastructures
.50
.55 .17
.22
Technology
.40
.11 .11
Cognition Levels
Figure: 1.5 Chisq, Structural equation modeling.
sustainability. Table 1 illustrates coefficient correlation (R) and R2 of each independent variable with the dependent variable.
Results & Discussion Descriptive analysis of the study revealed the following about the demographic information of the respondents. Among the three age groups (16 -40 -54- 65 - 40, 41 and 60), the majority of respondents belonged to 24 40 group. Less than 6 % of the respondents were women, and 94 % of the respondents were men. The respondents who were middle educated, percentage (39%) had high-school diploma. However, 8 % of the respondents had bachelor or some higher degrees. Moreover, 8% of the respondents were illiterate. The majority of the respondents were involved in agriculture (18%), and poultry husbandry (9%) respectively. Almost 82 % of the respondents were married while the rest being single. The results of correlation analysis indicated that there was a significant relationship between independent variables (micro finance, motivation, Infrastructures, literacy/skills, cognition levels, technology which proved the success of entrepreneurial sustainability of the rural communities. Regression analysis revealed that 91% of changes in dependent variable (success of entrepreneurial sustainability) could be predicted by six independent variables (micro finance, motivation, Infrastructures, literacy/skills, technology and Cognition Levels result success of entrepreneurial
Conclusion The paper focuses on the (most power full entrepreneurial muscle) rural assets of the agro based economy of Pakistan, where 65% population lives in harsh rurality. The 42% skilled and non skilled HR is absorbed by the agro economy. The 9 million dairy production houses that produce 177 - 540 billion rupees milk stands at 4th in the world. But there is no dedicated support and micro financing from Government. The rural agriculture sector further contributes 24% of the GDP and exports of over $ 5-8 billions raw agricultural products and venturing off the farm entrepreneurship, yet the rural communities are experiencing extreme poverty and deprivation. The rural areas culture, working conditions, non skilled communities severely impact the collective activities, micro entrepreneurship, micro financing and recognition and value creation of existing opportunities in rural Pakistan. The rural entity is becoming an abuse due to shortage of micro financing technology, water, electricity and poor governance in the country. The study based its rural focus on six independent variables to prove the success of dependent variable entrepreneurial sustainability. There was a significant relationship between independent variables (finance, motivation, Infrastructures, literacy/skills, cognition levels, technology). This proved the success of dependent variable (Entrepreneurial success) can be achieved. The structural model also supported the relation of the variables and
showed the accepted fit with the conceptual
rural sustainability model.
Recommendations
The universities, academia, Governmental policy formulating agencies and graduating students from rural area of KPK, Pakistan who are looking for jobs must narrow their focus for their existing infrastructures in
rural areas. The existing infrastructures of family businesses for micro entrepreneurship opportunities would work as initial bootstrapping entrepreneurship base, subsequently to expand and act as economic engine. There is need to address the 65 % rural Pakistan by rural Politicians in particular for modernization and skills development programs.
Boscarol M. (2003) Ecologia dei siti web. HOPS, Milano. References Acs, Z. J. and Armington, C. 2003, Endogenous growth and entrepreneurial activity in cities. U.S. Bureau of Census paper CES03-02, Washington, D. C. Acs, Z. J., Audretsch, D. B., and Evans, D. S., 1994, Why does the selfemployment rate vary across countries and over time? Discussion paper No.871, Centre for Economic Policy Research. Aldrich, H. (2000). Organizations evolving. Beverly Hills: Sage. Arzeni A., Esposti R. and Sotte F. (2003) Agriculturalcoltura e natura. FrancoAngeli, Milano. Barkley, David L. 2003, Policy Options for Equity Financing for Rural Entrepreneurs. Main Streets of Tomorrow Growing and Financing Rural Entrepreneurs, Federal Bistagnino L. (2008) Ispirati alla natura. Slowfood n. 34, Slow Food Editore, Bra (CN). Boggio F., Dematteis G. and Memoli, M. (2008) Geografia dello sviluppo. Spazi, economie e culture Kirzner, Burt, R. 1992. Structural Holes: The Social Structure of Competition. Cambridge, MA: Harvard Business Press. Chen, C. C., P. G. Greene, et al. (1998). "Does entrepreneurial selfefficacy distinguish entrepreneurs from managers?" Journal of Business Venturing 13(4): 295-316. Davidsson, P. and Honig, B. 2003. The role of social and human capital among nascent entrepreneurs. Journal of Business Venturing, 18: 301-331. 18 Frazier, B.J. and Niehm, L.S. 2004. Exploring business information networks of small retailers in rural communities. Journal of Developmental Entrepreneurship, 9: 23-42. I. M. (1979). Perception, Opportunity and Profit: Studies in the theory of entrepreneurship, University of Chicago Press, Chigago, IL.
Liao, J. and Welsch, H. 2005. Roles of social capital in venture creation: Key dimensions and research implications. Journal of Small Business Management, 43: 345-362.
Liao, J., Welsch, H. and Tan, W.L. 2005. Venture gestation paths of nascent entrepreneurs: Exploring the temporal patterns. Journal of High Technology Management Research, 16: McElwee, G., (2008). Briefing 308 reviewed April 9, 2008 Farmers entrepreneurial skills Mitchell, R. K., L. Busenitz, et al. (2002). "Toward a Theory of Entrepreneurial Cognition: Rethinking the People Side of Entrepreneurship Research." Entrepreneurship: Theory and Practice 27(2): 93. Mitchell, R. K., L. W. Busenitz, et al. (2007). "The Central Question in Entrepreneurial Cognition Research 2007." Entrepreneurship: Theory and Practice 31(1): 1-27. Mueller, P. 2006. Entrepreneurship in the region: Breeding ground for nascent entrepreneurs? Small Business Economics, 27: 4158. Read, S. and Sarasvathy, S.D. 2005. Knowing what to do and doing what you know: Effectuation as a form of entrepreneurial expertise. Journal of Private Equity, 9: 45-62. Reserve Bank of Kansas City (April) 107-130. Richard Sandover- Ardichvili, A., R. Cardozo, et al. (2003). "A theory of entrepreneurial opportunity identification and development." Journal of
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Shane, S. and S. Venkataraman (2000). "The Promise of Entrepreneurship as a Field Of Research." Academy of Management Review 25(1): 217-226. Storey, D. 2007. The Effects of new firm formation on regional development over time. Small Business Economics Using an ecological perspective to study organizational founding rates. Entrepreneurship: Theory and Practice, 14(3), 7-24. Wortman, M.S. Jr. 1990. A unified approach for developing rural entrepreneurship in the U.S. Agriculturalbusiness, 6: 221-

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International Conference on Entrepreneurship Celebrating Centenary Year of Schumpeter Jointly Organized by SME Business Support Fund and SURE

Entrepreneurship Wealth Creation in

Rural Entrepreneurship Development Insight Next Rural Revolution

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Sarhad University of Science & IT Series of articles by Department of Management Sciences

Sarhad University of Science & IT 2009-2012*

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Determinants of Rural Entrepreneurship in Pakistan

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Determinants of Rural Entrepreneurship in Pakistan Background

The domain of Social entrepreneurship has

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

knowledge and futuristic vision and create economic activity in

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

New Rural Communities

Urban Economic & Investment Hubs

Urban Economic & commercial markets Urban Education Hubs

Discovering New markets

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Micro Business Type

M.Khan Wali H Gul Kahan M. Shamrez

M +5 kids M+4 Kids S S

Timber micro business

Ahmed Gull Wali Derwash K

Transportation Property Development Home Bakery made products

Family Out Family Business Family In

Haroon K Hamza Rashid

Grocery shop Restaurant Poultry Farms

S M+6 kids M+6 Kids

Family In Family Business Family Business

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Figure: 1.3 Independent & Dependent Variables

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Table 1.4 Regression Analysis of effective factors in success of entrepreneurs

Variables Correlation Micro Finance

Coefficient (R2) .704

Opportunities/ Cognition Levels

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Motivation .53 .30

Entrepreneurial Sustainability .88

Figure: 1.5 Chisq, Structural equation modeling.

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

showed the accepted fit with the conceptual

rural sustainability model.

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

Professor S. Tahir Mehmood Kiani - Sarhad University of Science & IT

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